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    1345 N La Fox Street South Elgin, IL 60177

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    For Lease
    $14 SF/Yr

    Commercial property with high visibility and ample parking.

    Type:Commercial
    Added:
    Mar 28, 2026
    Days on Market:
    24
    Last Refresh:
    Apr 1 at 9:02 pm

    Property Features for 1345 N La Fox Street

    General Information

    Standard status
    Active
    Property subtype
    Commercial

    Building Details

    Year Built
    1990

    We can help!

    Listing Contact
    PETER DUBIEL

    Listing agent PETER DUBIEL License #471022858

    Listing office HOMESMART CONNECT LLC

    Listing date Mar 28, 2026

    Source Corcoran

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of HOMESMART CONNECT LLC

    Overview

    Retail/Office Unit on IL Rt 31

    This commercial property is a strip center featuring five units with established tenants, including an accounting firm and a gaming cafe. The available unit was previously an e-cigarette shop. Located on IL Rt 31 (LaFox St), the property benefits from significant drive-by exposure. A private parking lot provides up to 18 spaces for tenants and customers. Basement access allows for extra storage and easy utility modifications. Elevated rear entrances are accessible via sturdy wooden stairways. This property offers versatility in a vibrant location.
    Location Intelligence

    Current Use by Public Records

    Strip malls

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Gym & Fitness Center Building Supply Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    South Elgin
    County
    Kane
    State
    Illinois
    Longitude
    -88.2933668
    Latitude
    42.0062733

    Nearby Similar for Lease

    • Contact for pricing

      Retail/Office Strip Center Unit

      Commercial property on IL Rt 31 with high visibility.
      1345 N La Fox Street, South Elgin, IL 60177
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    • $27/mo

      Prime Retail Space on Randall Road

      High-traffic retail space with national co-tenants and excellent signage.
      310 Randall Road, South Elgin, IL 60177
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      South Elgin Retail Space Available

      Retail spaces in a busy center, ideal for diverse businesses.
      558-586 Randall Rd, South Elgin, IL 60177
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      Office Space in South Elgin

      Up to 5,190 SF available for lease on second floor.
      456-467 Redington Dr, South Elgin, IL 60177
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      Retail/Office Strip Center Unit

      Commercial space for lease on IL Rt 31 (LaFox St)
      1365 N La Fox Street, South Elgin, IL 60177
      View Details
    • $27/mo

      Retail Space on Randall Road

      Retail space with high visibility and national co-tenants.
      310-312 Randall Rd, South Elgin, IL
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    • $13/mo

      Prime Retail/Office Space Available

      1,800 SF space in a thriving South Elgin strip center.
      212-238 RANDALL Road, South Elgin, IL 60177
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      Retail Space on Randall Road

      Outlot retail space in a high-traffic shopping center.
      420 Randall Rd, South Elgin, IL
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      Regional Shopping Destination Available

      Regional shopping destination with over 1.5 million SF of retail.
      Randall Road, South Elgin, IL, 60177
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    • $25/mo

      Retail Space Available For Lease

      9,000 square feet retail property for lease.
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      Retail Space on Randall Road

      Retail space available for lease in South Elgin, Illinois.
      622 Randall Rd, South Elgin, IL
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    • Contact for pricing

      South Elgin Industrial Space

      15,000 SF industrial space available for lease.
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      View Details

    FAQs

    What type of property is this?
    Strip mall - Commercial property with high visibility and ample parking.
    Where is this strip mall located?
    The property is located at 1345 N La Fox Street South Elgin, IL.
    What is the lease rate?
    The lease rate is $14 SF/Yr.
    What are key features of this property?
    This property features: High visibility location on IL Rt 31 (LaFox St); Ample private parking with up to 18 spaces; Flexible utilities with basement access
    (847) 495-5000
    We can help!
    Listing Contact
    PETER DUBIEL
    Real Estate License ID: 471022858
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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